Word: depressionitis
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The first sentence of the bill reads "The economy is in a crisis not seen since the Great Depression." If it requires all of these plans to get America back on the road to recovery, the process will take a decade.
And there were those--including Summers--who advised Obama not to get too heavily involved in economic policymaking before his Inauguration. Better to let George W. Bush take ownership of the worst recession since the Great Depression so that the new President would be viewed as a fresh start. Emanuel...
The economy, obviously. Plenty of businesses are hurting. And it doesn't help that new media like video games (sales up 19% in 2008!) are now competing with books for our entertainment hours and dollars. But publishing has deeper, more systemic problems, like the fact that its business model evolved...
You know the rest of that story. Citi is now on life support, owing its continued survival to $45 billion--so far--in federal aid. Its beleaguered top-management team is trying to undo most of the 1998 merger with Travelers. And the new Obama Administration is faced with the...
Carter and Clinton aren't the first ex-presidents to take an interest in the greater good. Rutherford B. Hayes became president of the National Prison Association after taking notice of the atrocious living conditions most imprisoned Americans endured. Herbert Hoover, reviled for years because of his contribution to the...